Michigan Compiled Laws
Act 243 of 1980 - Emergency Municipal Loan Act (141.931 - 141.942)
Section 141.933a - Proceeds of a Loan; Special Assessment.

Sec. 3a.
The proceeds of a loan issued under this act to a municipality shall not be used by the municipality to finance any costs associated with a special assessment or special assessment district established after the effective date of the amendatory act that added this section.
History: Add. 2012, Act 284, Imd. Eff. Aug. 1, 2012

<< Previous
Next >>

Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 141 - Municipal Financing

Act 243 of 1980 - Emergency Municipal Loan Act (141.931 - 141.942)

Section 141.931 - Definitions.

Section 141.932 - Local Emergency Financial Assistance Loan Board; Creation; Membership; Powers and Duties; Approval of Actions; Conducting Business at Public Meeting; Staff Services; Powers of Municipality.

Section 141.933 - Maximum Amount of Loans in Fiscal Year; Limitations; Conditions; Maintaining Loan Proceeds in Separate Account; Monitoring Expenditures; Loan Proceeds Subject to MCL 45.621 to 45.631; Revenue for Loans; Restructuring Payments; “Coun...

Section 141.933a - Proceeds of a Loan; Special Assessment.

Section 141.934 - Application for Loan by Municipality; Resolution; Certification of Information and Conditions; Inspection, Copying, or Auditing of Books and Records; Applicability of Subsection (1).

Section 141.935 - Repealed. 2016, Act 197, Imd. Eff. June 21, 2016.

Section 141.936 - Annual Rate or Rates of Interest; Fixed Rate; Rate Calculated Upon Formula; Limitation; Payment of Interest and Principal; Delinquency; Repayment at Earlier Date or in Fewer Installments; Prohibited Conditions; Effect of Failure to...

Section 141.936a - State Treasurer Selling or Transferring Loan; Security; Interest Rate; Terms; Notice.

Section 141.937 - Duties of Municipality Receiving Loan; Failure to Comply With Subsection (1) and 5-Year Plan; Definitions; Exception.

Section 141.938 - Repealed. 2016, Act 197, Imd. Eff. June 21, 2016.

Section 141.939 - Annual Report; Evaluation of Loan Program; Recommendations.

Section 141.940 - Repealed. 1980, Act 324, Imd. Eff. Dec. 15, 1980.

Section 141.941 - Short Title.

Section 141.942 - Conditional Effective Date.